Resources

Category A – 12- 17 years

You will required to answer these questions when you are signing up.

What is your business name?

This will also be known as your team name. Eg. RAJA’S CUPCAKES STORE


What is your business idea or business concept?

Briefly introduce your idea and indicate if it will be a product or service.
Also describe the problem you are solving.
E.g. Product – cupcakes, which will be sold to the market


What is the social entrepreneurship element added?

Describe how you wish to positively impact the community or the environment through your business idea?
E.g. 10 cents from each sale will go to assisting friends with disabilities
E,g You will create healthy living awareness through your marketing materials
E.g You may also follow the UN Sustainable development goals https://sdgs.un.org/goals

Who is your target audience?

Who do you wish to sell your products mainly to.
E.g. School students / Working Adults / Children


What is your unique selling point?

How are you going to be different from your competitors?
Is your idea completely unique or are there others with the same idea?
E.g Cupcakes that contain Indian spices

How will you market your business?

You can describe how you wish to sell your product or services. It can be through online or through meeting people. How will you advertise your product/service?

Category B – 18 and above

You will required to answer these questions when you are signing up.

What is your Business Name?

This will also be known as your team name. Eg. RAJA’S CUPCAKES STORE

What is your business idea and  business model?

Briefly introduce your idea and indicate if it will be a product or service.

Also describe the problem you are solving.
E.g. Product – cupcakes, which will be sold to the market.

What is the social entrepreneurship element added?

Describe how you wish to positively impact the community or the environment through your business idea?
E.g. 10 cents from each sale will go to assisting friends with disabilities
E,g You will create healthy living awareness through your marketing materials
E.g You may also follow the UN Sustainable development goals https://sdgs.un.org/goals

Who is your target audience?

Who are you focusing your sales to. E.g. School students/ canteens/ tuition academy

What is your unique selling point /Differentiating factor ?

How are you going to be different from your competitors?
Is your idea completely unique or are there others with the same idea?
E.g we have an innovative recipe to tickle the taste buds of the new generation with our cupcakes containing some Indian spices, unlike the usual ones you find in the market.

What is your marketing plan & selling platform?

Sufficiently describe the marketing methods to be used at different business phases of your business.

 e.g. we will be taking in orders via our platform with built in payment and delivery methods. We will also allocate X amount of dollars for social media advertisements to reach out to students,

CAT A & CAT B Pitch Guide

According to the Rules and Regulations, you are expected to submit less than or equal to 10 slides. Your pitch video is encouraged to be within 5 minutes for submission Here are some useful tips to make your pitch more effective.

1. Define the problem

The most important thing is to identify a problem that is worth solving. If your product or service doesn’t solve a problem that potential customers have, you don’t have a viable business model. Simple as that.

2. Describe your solution

Too many entrepreneurs start their elevator pitch by describing their solution: a product or service that they think the market needs. They skip step 1 and don’t identify the problem they are solving. As a smart entrepreneur, you can avoid this mistake by first making sure that you are solving a real problem that customers actually have before you define your solution.

Once you have clearly defined the problem you are solving, you need to explain your solution. A clear problem statement will help you focus your solution on solving that one problem, and not stretch the solution to solve multiple potential problems.

3. Know your target market

As you define the problem you are solving, you should naturally be thinking about the potential customers who have this problem.

In the target market section of your elevator pitch, you will define exactly who has the problem you are solving and figure out how many potential customers you will be trying to sell to.

  • Market segmentation
  • How big is your potential market
  • What do your customers already spend?

4. Describe the competition

Every business has competition. Even if no one has come up with a solution similar to what you have come up with, your potential customers are solving the problem they have with some alternative.

For example, the competitors to the first cars weren’t other cars. The competition was horses and walking. As you think about your competition and existing alternatives, think about what advantages your solution offers over the competition.

5. Share who’s on your team

As great as your idea is, only the right team will be able to effectively execute and build a great company.

In the “team” portion of your elevator pitch, you should talk about why you and your business partners are the right team to execute your vision, and why your team’s skill set is precisely what is needed to lead your company to success. People often say that a company’s leadership team is more important than the idea—and this is often true. No matter how great or unique your solution is, if you don’t have the right people on board, you won’t be able to see it to fruition.

6. Include a financial summary

For a great pitch, you don’t necessarily have to show a detailed five-year financial forecast. What’s more important is that you understand your business model.

7. Show traction with milestones

The final key element of your elevator pitch is conveying your business milestones or your schedule.

Here you will talk about your upcoming goals and when you plan to achieve them. If you have already accomplished notable milestones, you should mention those. For example, if you have invented a new medical device, potential investors will want to know where you are in the clinical trial process. What steps have been accomplished and what’s the projected schedule for final approvals from the FDA? If you are opening a restaurant, investors will want to know about plans to sign a lease, design the interior, and open for business.

Talking about upcoming milestones in your pitch makes your business a reality. This section of the pitch illustrates how well you have thought through the detailed steps it’s going to take to open your business and start making money.